Welcome students to your Unit 2 Homework Assistance video. In the class, you be assigned the A set of problems. In this video, we result be reviewing the B set of problems as an ensample of how to appeal your homework. Remember, the B problem solutions are posted for you in the doctor communion area of the class room as an example of how to start out your assigned A problems. In Problem 1-3A, you are asked to gain monetary statements. The pecuniary statements should be created in a current fiat. First is the Income assertion, second is the tale of Owners Equity, triplet is the Balance Sheet and last is the contention of change Flows. The line of battle is very important because the statements are all interrelated and desire on the proceeding statement to be completed. The Income mastery presents the neighborly clubs revenues and expenses, basically your profit of loss in the fellowship. The Statement of Owners Equity presents the owners rights in the company and any changes that may have occurred for the financial statement period. The Balance Sheet presents the assets (resources owned by the company), liabilities (the rights of creditors to the companys assets) and owners equity (the rights of the owners in the company).
The Statement of property Flows presents what has happened to the cash only for the financial statement period. The scratch thing to note when completing the financial statements is the dates of each financial statement. These are specific for each financial statement, so be sure to review the example so you can intermingle the se correct. The Income Statement, Statemen! t of Owners Equity and Statement of cash Flows all have a date for a check out period of time. The Balance Sheet has a date for a particular day. Lets wait on everywhere the Income Statement example first. As you can see, the first detail listed is the revenues. If you look back at the instructions, you will note they generate you with a table of the various transactions for the month as intimately of the...If you want to get a full essay, order it on our website: OrderCustomPaper.com
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